The Boulder Group Arranges Sale of Single Tenant Net Leased Walgreens

The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant net leased Walgreens property located at 9300 East Gregory Boulevard in Raytown, Missouri for $6,000,000.

The 13,905 square foot Walgreens is located within the Kansas City MSA. This Walgreens location has strong store sales and is positioned at the heavily trafficked signalized intersection of Gregory Boulevard and Blue Parkway. This intersection experiences traffic counts in excess of 38,000 vehicles per day. Nearby retailers include Walmart Supercenter, Hy-Vee, Advance Auto Parts, AutoZone, Aldi, O’Reilly Auto Parts and Ace Hardware. There are approximately 122,000 people living within a five mile radius of the property.

Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction; a high net worth private individual based in the Midwest. The purchaser was a Northeast based real estate investor.

There are fourteen years remaining on the Walgreens lease which expires in January 2030. Walgreens has successfully operated at this site since 1999 and recently executed an early ten year lease extension demonstrating their commitment to this location. Walgreens is an investment grade rated company with a Standard & Poor’s rating of BBB.

“Established properties with proven operating histories continue to garner significant investor interest.” said Randy Blankstein, President of The Boulder Group.  Jimmy Goodman, Vice President of The Boulder Group, added, “Net lease properties with strong residual real estate value are highly sought after amongst the investment community.”

About The Boulder Group

The Boulder Group is a boutique investment real estate service firm specializing in single tenant net lease properties. The firm provides a full range of brokerage, advisory, and financing services nationwide to a substantial and diversified client base, which includes high net worth individuals, developers, REITs, partnerships and institutional investment funds. Founded in 1997, the firm has arranged the acquisition and disposition of over $3 billion of single tenant net lease real estate transactions. From 2010-2015, the firm was ranked in the top 10 companies in the nation for single tenant retail transactions by both Real Capital Analytics and CoStar. The Boulder Group is headquartered in suburban Chicago. www.bouldergroup.com

The Boulder Group Arranges Sale of Net Lease Fresenius Property

The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant Fresenius property located at 300 North 1^st Street in Vincennes, IN for $3,795,447.

The Fresenius property is strategically located just north of the Vincennes downtown corridor. The surrounding area is densely concentrated with commercial and residential buildings. There are over 20,000 people living within a three mile radius of the property. The surrounding trade area features many retailers such as Lowe’s, JCPenney, Walgreens, AutoZone and Dollar General. Further contributing to the strength of this Fresenius is its proximity to the Good Samaritan Hospital. Good Samaritan Hospital is a regional 232-bed facility that employs over 1,900 people.

Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction; a Midwest based private partnership. The purchaser was a high net worth individual based on the West Coast.

The newly signed Fresenius lease is for 15 years and features 2% annual rental escalations. Fresenius Medical Care North America provides renal services to hundreds of thousands of people throughout the United State, Mexico, and Canada through their 2,200+ dialysis facilities. Fresenius is an investment grade rated company with a Standard and Poor’s rating BBB-.

“Medical related properties featuring long term leases with multiple rental escalations continue to be highly sought after amongst the investor community as they provide an inflationary hedge” said Randy Blankstein, President of The Boulder Group.  Jimmy Goodman, Partner of The Boulder Group, added, “We are seeing many investors turn their attention to medical properties as they are highly resistant to e-commerce.”

About The Boulder Group

The Boulder Group is a boutique investment real estate service firm specializing in single tenant net lease properties. The firm provides a full range of brokerage, advisory, and financing services nationwide to a substantial and diversified client base, which includes high net worth individuals, developers, REITs, partnerships and institutional investment funds. Founded in 1997, the firm has arranged the acquisition and disposition of over $3 billion of single tenant net lease real estate transactions. From 2010-2015, the firm was ranked in the top 10 companies in the nation for single tenant retail transactions by CoStar and Real Capital Analytics. The Boulder Group is headquartered in suburban Chicago. www.bouldergroup.com

The Boulder Group Arranges Sale of Net Leased CVS Property

The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant net leased CVS property located at 4037 Glenwood Road in Decatur, Georgia for $3,600,000.

The 10,125 square foot CVS is located in the Atlanta MSA and was originally constructed in 1999. The property is located just off of the heavily trafficked signalized intersection of Glenwood Road and Columbia Drive. Glenwood Road is a primary east-west thoroughfare in the area while Columbia Drive is a primary north-south thoroughfare in the area. The surrounding area is densely populated with over 242,000 people living within a five mile radius earning average annual household incomes of approximately $60,000.  

Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction; an East Coast based real estate institution. The purchaser was a high net worth family trust.

There are over 21 years remaining on the recently extended CVS lease that expires January 31, 2037. CVS has successfully operated at this location since 1999 and recently executed a new 25 year lease extension demonstrating their commitment to this location. The CVS lease features five 5-year renewal option periods with 5% rental escalations in each. CVS is a publicly traded company with a market capitalization in excess of $104 billion CVS is an investment grade rated tenant with a Standard & Poor’s rating of BBB+.

“The market for well-located net lease properties in top MSAs remains active as these assets are in high demand amongst private investors” said Randy Blankstein, President of The Boulder Group.  Jimmy Goodman, Partner of The Boulder Group, added, “Established properties with proven operating histories continue to garner significant investor interest.”

About The Boulder Group

The Boulder Group is a boutique investment real estate service firm specializing in single tenant net lease properties. The firm provides a full range of brokerage, advisory, and financing services nationwide to a substantial and diversified client base, which includes high net worth individuals, developers, REITs, partnerships and institutional investment funds. Founded in 1997, the firm has arranged the acquisition and disposition of over $3 billion of single tenant net lease real estate transactions. From 2010-2015, the firm was ranked in the top 10 companies in the nation for single tenant retail transactions by both Real Capital Analytics and CoStar. The Boulder Group is headquartered in suburban Chicago.

www.bouldergroup.com

The Boulder Group Publishes Net Lease Big Box Market Research Report

The Boulder Group’s Research Department has released a new research report providing comprehensive numbers and analysis of the activity in the National Net Lease Big Box Market.

Highlights from the report are as follows:

·       A 63 basis point decrease in cap rates for big box properties from the fourth quarter of 2014 to the fourth quarter of 2015

·       Investment grade big box properties are priced at a 155 basis point premium over non-investment grade big box properties

·       Big box properties are priced at a 17 basis point premium when compared to the entire net lease retail market

The full report can be viewed online at http://www.bouldergroup.com/Net-Lease-Big-Box-Research-Report.pdf

About The Boulder Group

The Boulder Group is a boutique investment real estate service firm specializing in single tenant net lease properties. The firm provides a full range of brokerage, advisory, and financing services nationwide to a substantial and diversified client base, which includes high net worth individuals, developers, REITs, partnerships and institutional investment funds. Founded in 1997, the firm has arranged the acquisition and disposition of over $3 billion of single tenant net lease real estate transactions. In 2010-2015, the firm was ranked in the top 10 companies in the nation for single tenant retail transactions by both Real Capital Analytics and CoStar. The Boulder Group is headquartered in suburban Chicago. More information on the firm can be found on The Boulder Group’s website at www.bouldergroup.com  

The Boulder Group Arranges Sale of Net Lease Chick-Fil-A Ground Lease

The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant new construction Chick-Fil-A ground lease located at 1100 Northside Drive in Atlanta, GA for $4,750,000. This transaction represents the highest priced single tenant Chick-Fil-A property ever sold according to CoStar.

The brand new Chick-Fil-A property is strategically located along Northside Drive, the main north-south thoroughfare in Atlanta’s West Midtown neighborhood. The West Midtown submarket is experiencing tremendous growth with 10% population growth, 12.7% rise in total households and a daytime population in excess of 290,000 people. The property is positioned approximately one-half mile from the Georgia Tech campus which has a total enrollment in excess of 25,000 students. There are over 150,000 people living within a three mile radius of the property. The Chick-Fil-A is benefitted by its close proximity to Atlanta’s only IKEA location.

Randy Blankstein and Zach Wright of The Boulder Group represented the purchaser in the transaction; a Midwest based real estate development firm in a 1031 Exchange. The seller was Southeast based partnership.

The brand new Chick-Fil-A ground lease is for twenty years and features rental escalations every five years throughout the primary term and renewal option periods. The ground lease features no landlord responsibilities and seven 5-year renewal option periods. Chick-Fil-A is a privately owned company with over 1,900 locations and was founded in 1946. Chick-Fil-A is headquartered in Atlanta, GA. 

“The market for long term ground leases located in top MSAs remains active as these assets are highly sought after amongst private investors” said Randy Blankstein, President of The Boulder Group.  Zach Wright of The Boulder Group, added, “Due to their limited supply, new construction Chick-Fil-A ground leases are highly sought after amongst the investment community.”

About The Boulder Group

The Boulder Group is a boutique investment real estate service firm specializing in single tenant net lease properties. The firm provides a full range of brokerage, advisory, and financing services nationwide to a substantial and diversified client base, which includes high net worth individuals, developers, REITs, partnerships and institutional investment funds. Founded in 1997, the firm has arranged the acquisition and disposition of over $3 billion of single tenant net lease real estate transactions. From 2010-2015, the firm was ranked in the top 10 companies in the nation for single tenant retail transactions by both Real Capital Analytics and CoStar. The Boulder Group is headquartered in suburban Chicago. www.bouldergroup.com

Net Lease Physicians Immediate Care Property Sold in Chicago

The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant Physicians Immediate Care medical related property located at 6140 North Broadway in Chicago, IL for $2,325,000.

The Physicians Immediate Care property is strategically located along North Broadway, a primary north-south thoroughfare in the area that experiences average traffic volumes in excess of 22,500 vehicles per day. Retailers located in the immediate area include Whole Foods, LA Fitness, Walgreens, CVS, Aldi, MB Financial Bank, McDonald’s, Sleepy’s, and Starbucks. The Physicians Immediate Care is benefitted by its close proximity to Loyola University Chicago. Loyola University is home to over 15,000 students. The surrounding area is densely populated with over 70,000 people living within a one mile radius.

In the immediate vicinity to the Physicians Immediate Care property, Crossroads Development recently developed a single tenant trophy Walgreens and LA Fitness property.

Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction which was Crossroads Development. The purchaser was a high net worth individual in a 1031 Exchange.

The Physicians Immediate Care lease has approximately 14 years remaining and features 8% rental escalations every five years. Physicians Immediate Care is a Midwest leader in urgent care and occupational health services with 32 locations in three states.  No appointments are required and most clinics are open seven days a week, up to 12 hours a day, to treat non-life threatening illnesses and injuries. The clinics are staffed by a doctor, or physician assistant under the supervision of a doctor, who provides quality, caring service, and effectively diagnoses and treats a variety of injuries and ailments.

“Medical related properties featuring long term leases with multiple rental escalations continue to be highly sought after amongst the investor community as they provide an inflationary hedge” said Randy Blankstein, President of The Boulder Group.  Jimmy Goodman, Partner of The Boulder Group, added, “We are seeing many investors turn their attention to medical properties as they are highly resistant to e-commerce.”

About The Boulder Group

The Boulder Group is a boutique investment real estate service firm specializing in single tenant net lease properties. The firm provides a full range of brokerage, advisory, and financing services nationwide to a substantial and diversified client base, which includes high net worth individuals, developers, REITs, partnerships and institutional investment funds. Founded in 1997, the firm has arranged the acquisition and disposition of over $3 billion of single tenant net lease real estate transactions. From 2010-2014, the firm was ranked in the top 10 companies in the nation for single tenant retail transactions by Real Capital Analytics. The Boulder Group is headquartered in suburban Chicago.

 www.bouldergroup.com

About Crossroads Development Partners

Crossroads Development Partners, LLC is a boutique commercial real estate investment, management, and development company with expertise in property operations, entitlements, construction management, financial underwriting, and development. Crossroads Development Partners is particularly focused on maintaining and creating value at the property level to maximize returns to stakeholders. The company’s hands-on approach to operating income-producing real estate differentiates Crossroads Development Partners from competitors.  Crossroads currently has over $200,000,000 in various stages of development including retail, apartments and office properties located in Florida and Illinois.

http://www.xrdevelopment.com

The Boulder Group Publishes 4th Quarter Net Lease Market Research Report

The Boulder Group’s Research Department has released a new research report providing comprehensive numbers and analysis of the 4th quarter activity in the National Net Lease Market.

Highlights from the report are as follows:

·       Cap rates for net leased retail properties remained at last quarter’s historic low level

·       Cap rates for net leased office and industrial properties reached new historic low levels

·       Overall property supply of retail, office and industrial net lease assets decreased by more than 11% from Q3 2015 to Q4 2015

The full report can be viewed online at http://www.bouldergroup.com/2015-Q4-Net-Lease-Research-Report.pdf

About The Boulder Group

The Boulder Group is a boutique investment real estate service firm specializing in single tenant net lease properties. The firm provides a full range of brokerage, advisory, and financing services nationwide to a substantial and diversified client base, which includes high net worth individuals, developers, REITs, partnerships and institutional investment funds. Founded in 1997, the firm has arranged the acquisition and disposition of over $3 billion of single tenant net lease real estate transactions. In 2010-2015, the firm was ranked in the top 10 companies in the nation for single tenant retail transactions by Real Capital Analytics. The Boulder Group is headquartered in suburban Chicago. More information on the firm can be found on The Boulder Group’s website at www.bouldergroup.com